NLC India soars on getting in-principle approval to invest up to Rs 994 crore in NIRL
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NLC India is currently trading at Rs. 234.55, up by 4.80 points or 2.09% from its previous closing of Rs. 229.75 on the BSE.
The scrip opened at Rs. 233.05 and has touched a high and low of Rs. 235.00 and Rs. 229.10 respectively. So far 91334 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 293.60 on 05-Feb-2024 and a 52 week low of Rs. 95.35 on 19-Jun-2023.
Last one week high and low of the scrip stood at Rs. 235.00 and Rs. 193.00 respectively. The current market cap of the company is Rs. 32440.36 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 20.08% and 7.73% respectively.
NLC India (NLCIL) has received in-principle approval to invest up to Rs 994.50 crore, in one or more tranches in NLC India Renewables (NIRL), Wholly Owned Subsidiary of the Company by way of subscribing the Equity Shares at face value subject to the necessary approvals of DIPAM/MoC etc.
The objective of investment is for formation of Joint Venture Company by NIRL with APDCL for establishing renewable energy Projects in the state of Assam.
NLC India is engaged in the business of lignite mining and power generation.
